Costing Methods MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on Costing Methods, a fundamental topic in the field of Cost Accounting. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our Costing Methods MCQs are designed to help you grasp the core concepts and excel in solving problems.

In this section, you'll find a wide range of Costing Methods mcq questions that explore various aspects of Costing Methods problems. Each MCQ is crafted to challenge your understanding of Costing Methods principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace Cost Accounting tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our Costing Methods MCQs are your pathway to success in mastering this essential Cost Accounting topic.

Note: Each of the following question comes with multiple answer choices. Select the most appropriate option and test your understanding of Costing Methods. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

So, are you ready to put your Costing Methods knowledge to the test? Let's get started with our carefully curated MCQs!

Costing Methods MCQs | Page 1 of 17

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Q1.
An approach in which the company under-costs it's one product and over-costs at least one product is classified as
Discuss
Answer: (c).product-cost cross subsidizing
Q2.
The budgeted total cost in indirect cost pool, is divided by budgeted total quantity of the cost allocation base, is calculated by
Discuss
Answer: (b).budgeted indirect cost rate
Q3.
In an activity based cost system; an activity/unit of work or task with differentiated purposes will be classified as
Discuss
Answer: (c).an activity
Q4.
The costs of all the activities for individual products or services can be called
Discuss
Answer: (b).output-unit level costs
Q5.
In an activity based costing implementation, the product's diverse demand is based on
Discuss
Answer: (d).all of above
Q6.
The broad's average use to assign the cost of revenue to cost objects will be classified as
Discuss
Answer: (a).refined costing system
Q7.
The costs of all the activities for a group of products, rather than individual product can be classified as
Discuss
Answer: (c).batch level costs
Q8.
The product which requires low amount of resources, but incur high per unit cost is classified as
Discuss
Answer: (d).product over costing
Q9.
In activity based costing system, the description of activity can be classified as
Discuss
Answer: (d).both a and b
Q10.
The factors that accelerate the process of refining a costing system include
Discuss
Answer: (d).all of above